Covid-19 : The Impact on Pension Funds

Swiss Risk & Care stands with companies.

The economic and sanitary crisis that we are currently experiencing has led us to contact most of the pension funds with whom our clients are affiliated over the last few days. Here are the general elements that emerged from these contacts.

Measures in favour of companies to lessen financial pressure

For some of them, solutions to lighten the financial pressure that employers are currently facing may be implemented. We invite you to contact your Swiss Risk & Care counsellor or one of our LPP specialists to assess and implement the measures that could best help your business together (a delay in contribution payments, not charging interest on arrears in the event of late payment, the use of equity and free reserves to finance contributions, etc.).

Stock market crisis: may have no impact on policyholders and companies

Despite the stock market crisis in March, pension funds have not considered taking any measures unfavourable to their policyholders or affiliated companies in order to compensate for the decrease in their assets. Indeed, this crisis has occurred following an excellent stock market year in 2019 that allowed the creation of significant reserves. Of course, we are following the situation very closely and will provide you with more details on your pension fund in our further communications.

Partial unemployment: no steps to be taken

For companies who have had recourse to partial unemployment and the temporary reduction in working hours, no steps need to be taken in regard to your pension fund. The salaries taken into account for occupational pension funds are maintained at the previous level in principle. This also applies to the other personal insurances. Your Swiss Risk & Care counsellor is available to provide you with additional information.

Pension Funds: communication and organisation adapted

Most pension funds have not encountered any operational difficulties linked to the current crisis. The means of communication have been adapted in some cases and the formal requirements reduced.

The support of your Occupational Pension Fund Broker

During this difficult and unprecedented situation, we stand with you to provide you with help and advice. We have made arrangements to ensure the continuity of our services. Our LPP specialists are at your disposal to treat all operational questions (arrival/departure of an employee, salary changes, etc.).
Finally, we should like to remind you that your staff may send any questions regarding their occupational pension funds to our e-mail address pensionfund@swissriskcare.ch.